II. Read and translate the text.

Next (this) year I'll graduate from Kyiv Trade and Economic College and become a specialist who is in a great need for our national economy.

Financial managers have many responsibilities. These include collecting funds, paying debt, establishing trade credit, obtaining loans, controlling cash balances, and planning for the firm's future financial requirements. But a financial manager's overall objective is to increase the value of the firm and thus to increase stockholders' wealth. To rich this goal, financial managers must ensure that the company's earnings exceed its costs ~ in other words, that the company earns a profit. In proprietorships and partnerships, profits translate into an increase in the owners' wealth. In corporations, profits translate into an increase in the value of common stock.

Managing Cash Flow (Cash Flow Planning). To increase the firm's value, financial managers must make sure the company always has enough funds on hand to purchase the materials it needs to

produce goods and services. At the same time, any funds not needed immediately must be invested to earn more money for the firm. This management of a firm's cash flow requires careful planning. < Otherwise, excess cash balances will sit idle (and therefore be unproductive) or cash deficits will occur.

Mow extensive is the idle cash situation in businesses? More and more companies are learning that these idle funds can become a profitable workhorse. By finding out where its idle cash is located and putting it to work, companies avoid borrowing from outside sources. The savings on interest payments can be substantial.

Pools of idle cash can often be found in checks that are received by a company but not cash immediately. To remedy this situation, companies that receive large numbers of checks can have them sent to lockboxes - addresses near the senders where checks are held in locked boxes for safekeeping. Another source of idle cash can be found in the checks issued by a company but not yet cashed. Some firms used special «controlled disbursement» accounts to keep track of these funds. In these accounts, managers use desktop computers wired directly into their banks to see which checks will be cleared by which banks at what times during the day.

Accurate information about current cash status isn't enough for good cash management, however. Managers also need to plan cash (lows days, weeks, and months ahead of time. Accurate projections allow firms to take advantage of high-yielding investment opportunities. Many businesses choose to use special financial advisers for this purpose.

III. Discuss:

1. What made you choose the speciality you are majoring in?

2. Why is your speciality in so great need for our national economy now?

3. What helps Management to make correct financial decisions?

4. What particular skills do you think financial manager need?

5. Do you think you possess these skills?

INTERVIEWING

І.Study the vocabulary:

interviewee особа, яка дає інтерв'ю

interviewer інтерв’юер

referenceрекомендація

accept the job offer приймати пропозицію про роботу

turn down the job offer відхиляти пропозицію про роботу

appoint (v) призначати, затверджувати (на посаді)

sign (v) підписувати

employment contract трудовий контракт

working conditions умови праці

salary заробітна плата

in advance заздалегідь

research (v) вивчати, досліджувати

implement (v) виконувати, здійснювати

relocate (v) переміщати, переселяти

training course курс навчання

strengthsсильні сторони

weaknessнедолік, уразливе місце

<== попередня сторінка	\|	наступна сторінка ==>
II. Retell the text.	\|	IІ. Read and translate the text.

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